SAN DIEGO & MILPITAS, Calif. — (BUSINESS WIRE) — October 29, 2013 —
Peregrine Semiconductor Corp. (NASDAQ:
PSMI), founder of RF SOI (silicon
on insulator) and pioneer of advanced RF solutions, and GLOBALFOUNDRIES,
a leading provider of semiconductor manufacturing technology, are
sampling the first RF Switches built on Peregrine’s new UltraCMOS 10 RF
SOI technologies. This partnership unites Peregrine’s 25 years of RF SOI
experience with a tier-one foundry. In a joint development effort,
GLOBALFOUNDRIES and Peregrine created a unique fabrication flow for the
versatile, new, 130 nm UltraCMOS 10 technology platform. This new
technology delivers a more than 50-percent performance improvement over
comparable solutions. UltraCMOS 10 technology gives smartphone
manufacturers unparalleled flexibility and value without compromising
quality for devices ranging from 3G through LTE networks.

“GLOBALFOUNDRIES is the perfect strategic partner for Peregrine’s next
generation of RF SOI technologies,” says Jim Cable, CEO at Peregrine
Semiconductor. “It enables us to have a comprehensive technology roadmap
with access to future-generation technologies. This joint-development
partnership offers our customers new levels of product performance,
reliability and scalability, and it enables us to push the envelope of
integrated RF Front-End innovation.”

“Peregrine Semiconductor’s leadership in RF SOI solutions makes the
company an ideal partner as we expand our expertise and capabilities as
part of our Singapore Vision 2015 initiative,” says GLOBALFOUNDRIES CEO
Ajit Manocha. “The joint development of a unique fabrication flow,
coupled with Peregrine’s RF expertise, allows us to produce the
highest-performing RF SOI solution on the market today.”

Please visit our
press
kit for more information on today’s news from Peregrine.

USE OF FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements regarding our
management’s future expectations, beliefs, intentions, goals,
strategies, plans and prospects. Such statements constitute
“forward-looking” statements which are subject to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. The
achievement of the matters covered by such forward-looking statements
involves risks, uncertainties and assumptions. If any of these risks or
uncertainties materialize or if any of the assumptions prove incorrect,
our actual results, performance or achievements could be materially
different from any future results, performance or achievements expressed
or implied by the forward-looking statements. Such risks and
uncertainties include, but are not limited to, our dependence on a
limited number of customers for a substantial portion of our revenues;
intellectual property risks; intense competition in our industry; our
ability to develop and introduce new and enhanced products on a timely
basis and achieve market acceptance of those products; consumer
acceptance of our customers’ products that incorporate our solutions;
our lack of long-term supply contracts and dependence on limited sources
of supply; and potential decreases in average selling prices for our
products.

For further information regarding risks and uncertainties associated
with Peregrine’s business, please refer to the filings that we make with
the Securities and Exchange Commission from time to time, including
those set forth in the section entitled “Risk Factors” in our Form 10-K
for the year ended December 29, 2012, which should be read in
conjunction with these financial results. These documents are available
on the SEC Filings section of the Investor Relations section of our
website at
http://investors.psemi.com/.
Please also note that forward-looking statements represent our
management’s beliefs and assumptions only as of the date of this press
release. Except as required by law, we assume no obligation to update
these forward-looking statements publicly, or to update the reasons
actual results could differ materially from those anticipated in the
forward-looking statements, even if new information, becomes available
in the future.

ABOUT PEREGRINE SEMICONDUCTOR

Peregrine Semiconductor (NASDAQ:
PSMI), founder of RF SOI (silicon on
insulator), is a leading fabless provider of high-performance,
integrated RF solutions. Since 1988 Peregrine has been perfecting
UltraCMOS® technology – a patented, advanced form of SOI – to deliver
the performance edge needed to solve the RF market’s biggest challenges,
such as linearity. With products that deliver best-in-class performance
and monolithic integration, Peregrine is the trusted choice for market
leaders in automotive, broadband, industrial, Internet of Things,
military, mobile devices, smartphones, space, test-and-measurement
equipment and wireless infrastructure. Peregrine holds more than 150
filed and pending patents and has shipped 2 billion UltraCMOS units. For
more information, visit
http://www.psemi.com.

ABOUT GLOBALFOUNDRIES

GLOBALFOUNDRIES is the world’s first full-service semiconductor foundry
with a truly global footprint. Launched in March 2009, the company has
quickly achieved scale as one of the largest foundries in the world,
providing a unique combination of advanced technology and manufacturing
to more than 160 customers. With operations in Singapore, Germany and
the United States, GLOBALFOUNDRIES is the only foundry that offers the
flexibility and security of manufacturing centers spanning three
continents. The company’s three 300mm fabs and five 200mm fabs provide
the full range of process technologies from mainstream to the leading
edge. This global manufacturing footprint is supported by major
facilities for research, development and design enablement located near
hubs of semiconductor activity in the United States, Europe and Asia.
GLOBALFOUNDRIES is owned by the Advanced Technology Investment Company
(ATIC). For more information, visit
http://www.globalfoundries.com .